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DEVELOP GLOBAL LIMITED — Regulatory Filings 2009
Aug 23, 2009
64801_rns_2009-08-23_eaf9fa03-b32d-42a1-a61b-4b3d73120d9c.pdf
Regulatory Filings
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ASX Announcement ASX Code: VXR
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24 August 2009
Liberty-Indee Project - Drilling Update
The current phase of reverse circulation drilling at the Evelyn Prospect, Liberty‐Indee Project in the Pilbara Region of Western Australia has intersected volcanic associated massive sulphide (VMS) mineralisation at a depth of approximately 200 metres below surface.
Hole number JER056 intersected 5 metres of massive sulphide with visible chalcopyrite from 231 metres, followed by a further 2.5 metres of disseminated mineralisation. Based on the attitude of the stratigraphy at higher levels, the true width of mineralisation is estimated to be approximately 70% of downhole width, or 5.25 metres. Assays are expected in approximately four weeks.
For further details:
Dr Tim Sugden Managing Director T: +61 8 6389 7403 M: +61 407 085 032 E: [email protected]
This is the deepest massive sulphide mineralisation intersected to date at Liberty‐Indee, indicating that copper‐zinc‐gold‐silver lenses may have considerable vertical and lateral extent.
The current hole, JER057, intersected a fault at 214 metres but will drill on to the target zone as indicated on the long section.
The next hole will target the VMS horizon 50 metres north of the JER056 intersection.
Board
Allan Trench Non-Executive Chairman
Tim Sugden Managing Director
Michael Mulroney Non-Executive Director
Anthony Reilly Executive Director
Liza Carpene Company Secretary
| Hole ID | Northing | Easting | Azimuth | Dip | Massive Sulphide Intersection From To |
Massive Sulphide Intersection From To |
End of Hole (m) | ||
|---|---|---|---|---|---|---|---|---|---|
| JER056 | 7667090 | 587912 | 130 | ‐60 | 231 | 238.5 | 262 | ||
| JER057 | 7667046 | 587880 | 130 | ‐60 | 214 (drillingon) |
On‐going drilling will continue to test depth extensions of the Evelyn Prospect, as well as untested gossans to the north and south of Evelyn, VTEM anomalies and the Quarmby copper workings.
Venturex’s Pilbara strategy is to establish a high grade base metal resource at Liberty‐Indee to supplement proposed copper‐zinc‐silver production from the Whim Creek and Salt Creek Project areas.
Contact Details
Registered Office: Suite 3, Level 1 127 Cambridge Street West Leedervile WA 6007 T: +61 8 6389 7400 F: +61 8 9463 7836
TIM SUGDEN Managing Director
E: [email protected] W: www.venturexresources.com
ABN: 28 122 180 205
The information in this report, as it relates to Exploration Results, is based on information compiled and/or reviewed by Dr Tim Sugden PhD, BSc (Hons), who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Sugden is Managing Director of Venturex Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Sugden consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
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Liberty-Indee Project - Drilling Update Released: 24 August 2009
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